Factual Data isnt a lender or service provider like some other entries on your report. You can first try contacting the background check company that issued your report and ask if they would be willing to amend it if you prove that it contains factual inaccuracies. You have money questions. If you notice an inquiry you dont recognize, it could indicate identity theft. Please review our list of best credit cards, or use our CardMatch tool to find cards matched to your needs. Pre-Qualification can be a cost-effective first step in determining your consumers creditworthiness for a mortgage. We may assist you if one of our clients accessed your credit report through Factual Data. Opinions are our own, but compensation and in-depth research determine where and how companies may appear. You can also request your reports by calling 877-322-8228 or by downloading a request form and mailing it to: Annual Credit Report Request Service If you would like to access, delete, or otherwise exercise your rights under the California Consumer Privacy Act with regard to this personal information, please submit your request to us online through this form or by contacting us at, Human Trafficking Victim Credit Resources. or job #. Pre-qualification: They filter candidates based on 1, 2, or 3 bureaus' soft inquiry credit reports. However, all credit card information is presented without warranty. It has not been provided or commissioned by the credit card issuers. how to read a factual data credit report. Hard inquiries matter because they can indicate increased risk to lenders as they wonder why you want or need more credit. Contact Factual Data or the company that used their services to check your credit and gather the details of the application. The three large U.S. credit bureaus Equifax, Experian and TransUnion were required by a 2003 federal law to set up AnnualCreditReport.com as a central online resource for report requests. Or get your hands on all three reports at once by ordering them at AnnualCreditReport.com. How much should you contribute to your 401(k)? Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact how and where products appear on the site. articles, Do Not Sell or Share My Personal Information, 5468 MLK AVE., SUITE 300, ROCKWELL, TX 97845. There are a few exceptions, like when youre comparison shopping for a mortgage. Discard extraneous material and focus on the essential. You can dispute the error by contacting FDC and the credit bureaus. Manage resources by using Pre-Qualificationreports to take a first glance at your consumers. When a Factual Data client requests a copy of your credit report through our system, the inquiry may display as Factual Data. If you continue to miss the due date, you can incur additional late fees. Keep your credit reports in a safe place. Chapter 7 bankruptcy remains on the credit report for 10 years from the filing date. It does require written instruction from the consumer allowing you to obtain their credit data. By Phone: Call 1-877-322-8228. Public records are court judgments, wage garnishments, liens and bankruptcy files that may be reported to the credit bureaus. Documents are typically processed and sent out for investigation within 3-5 days. Some of the most common are: FairIsaac 2.0 (used by Experian), Beacon 5.0 (used by Equifax), FICO RiskScoreClassic 04 (used by TransUnion). Factual Data provides credit information from Consumer Reporting Agencies (CRAs) to its clients, which are primarily banks, mortgage companies and other lending institutions that have a permissible purpose under the Fair Credit Reporting Act (FCRA) to obtain credit information for lending purposes. The type of inquiry is the scope of credit history requested whether a persons credit history or an organization or businesss credit history. Responsibility: Individual accountDate opened: 03/2008Date closed: 05/2014Date paid: 05/2014. Here is a breakdown of the terminology and common codes used in credit reports. Other potential errors in this section include: Make sure that every account listed belongs to you. Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access In fact, the companys website claims it provides risk mitigation, credit reporting and independent verification services using items such as public records. "In the . The easy-to-read report highlight You need to monitor your credit reports regularly to catch potential identity theft and fraud. All Fannie Mae credit With the tools and resources provided by the FCRA, youre fully equipped to dispute an inaccurate entry on your credit report, but you dont have to do it alone. Phone number: (877) 237-8317. Join us to learn: What each data point stands for. An installment account is a fixed line of credit that is paid over a certain period of time. P.O. The Equifax logo is a registered trademark owned by Equifax in the United States and other countries. Not only can Pre-Qualification reports help reduce the downstream expenses associated with more exhaustive credit evaluations they have no impact on the consumers credit score and do not produce trigger leads that alert the competition. Credit history requests include creditors who have requested your credit report. All three bureaus allow you to dispute the information in this section if you can prove an error. Personal information is identifying information about the credit report requestor. Whenever you apply for a loan, a lender requires a more invasive and in-depth credit check, which is a hard inquiry. Dont panic if all your employment information is not recorded on this report. Our top goal is simple: We want to help you narrow down your search so you dont have to stress about finding your next credit card. All of these can hurt your credit score because they show a pattern of serious delinquency. Although you cannot dispute a credit score specifically, you can dispute inaccurate or incomplete information that is appearing on your credit report. It may seem intimidating to read a credit report, but breaking down the information in your credit reports is easier than you think. Box 2002Allen, TX 75013P (888) 397-3742, P.O. How To Remove Items From Your Credit Report, How To Boost Your Credit Card Approval Odds. When you understand why its important to check your credit report and understand how to read a credit report, you can make more informed decisions about your spending and behavior as a borrower. Factual Data actually provides merged credit reports itself. In this example, the account was paid in full after being sent to a collection agency. Payment status is the current status of your adverse account. Factual Data does not make lending decisions. As such, they may obtain one or all of your credit reports in the screening process or a merged Factual Data credit report. The next step is designed to verify your identity. Box 740241Atlanta, GA 30374P (888) 289-0201, PO Box 105108Atlanta, GA 30348-5108P (888) 497-0011. Assisting Throughout the Mortgage Lending Lifecycle Pre-Qualification Application Pre-Closing Post-Closing Learn More Each of the reporting companies uses a different code series. Many consumers have a difficult time understanding their credit reports and piecing the three reports together, so here are examples and explanations of the most common elements that appear in each of the three free credit bureau reports. THIS SECURITY ALERT WILL BE MAINTAINED FOR 90 DAYS BEGINNING 03-01-2018. 2023 Bankrate, LLC. See more In this example, a truck loan was granted, and the credit grantee agreed to surrender his truck if he is unable to pay the loan. Mistakes happen and its important to catch them as incorrect information can affect your credit score, as well as any application processes that consider your report. Instead, its a company that runs credit checks for lenders. Our editors and reporters thoroughly fact-check editorial content to ensure the information youre reading is accurate. The Benefits of Hiring a Credit Repair Service, How to Improve Your Credit Scores in 2023, How to Remove Late Payments from Credit Reports. With Pre-Qualification, youll receive an estimate of where the consumers credit stands. Dorado, PR 00646, Metro Office Park Even if you are current on your payments for a credit account, it still may be included in this section of your credit report if you had ever missed or were late on a payment. Sample credit report shows examples of common features. You can easily fill in your information online or dispute by mail or over the phone. Running in the background, scanning all your files, and utilizing proven CreditXpert optimization and simulation technology, Credit Assure automatically presents findings on every file. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Our best piece of credit report advice? After that you receive a code "9" which means the account has gone to collections. OFAC Alert Provides a record of the check against the Office of Foreign Assets Control database for USA PATRIOT Act compliance. Application: In this stage, they provide merged credit reports in easy-to-read formats. 1-6 is 30-180 days past due and 7, 8 or 9 means bankruptcy has been filed or that the house is currently in foreclosure proceedings. This will give you valuable information on who has been accessing your report and why, whether there are errors on your report that negatively affect your credit score, and whether or not you are a victim of credit fraud. Lenders use this information and the FDC credit report to decide whether to provide you with a loan. If you didnt apply for a loan and FDC is on your report anyway, you still dont need to stress. Factual Data is a leading mortgage credit report provider in the United States. Offering a variety of credit data solutionsfrom credit reports to workflow solutions designed to build automation and efficiency into your lending process. You can contact FDC at the address or phone number below: 400 Holiday Dr., Suite 300 Pittsburgh, PA 15220, Phone Number: 800-216-3463 Website: http://www.factualdata.com. However, an unknown inquiry could mean someone has tried to use your identity fraudulently or signal a reporting error. Mortgage scores can be purchased here under the products section - the 3 B report. You can order one free copy of your credit report each year from the three main reporting bureaus: Equifax, Experian and TransUnion. The company provides risk mitigation by automating the underwriting process in the U.S. We value your trust. Equifax's codes include: * = Current N = Current account/zero balance-no update tape received 0 = Current account/zero balance-reported on update tape 1 = 30 days past the due date 2 = 60 days past the due date 3 = 90 days past the due date 4 = 120 days past the due date 5 = 150 days past the due date 6 = 180 days past the due date 7 = Bankruptcy Chapter 13 (Petitioned, Discharged, Reaffirmation of Debt Rescinded) 8 = Derogatory, e.g. Factual Data does not maintain a database of consumer information. However, its possible that an unfamiliar credit inquiry on your report could be the result of multiple potential lenders pulling your report after you apply for a loan or mortgage. subject matter experts, This no-risk entry point can help to establish a positive initial relationship with the consumer, and help them understand their buying power. Support. Most of them contain identifying information that could be used for fraud or identity theft. Essential reads, delivered straight to your inbox. A personal statement is a way for the consumer to add additional explanations about his or her credit history that might not otherwise be discerned from standard credit report information. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Account Payment status is the current status of your adverse account. Our goal is to give you the best advice to help you make smart personal finance decisions. That means your credit report could feature an entry . Privacy Policy. Reasonable efforts are made The integration is available to all LendingPad users and will automatically populate credit information into the platform. Total Debt 5. 3. Knowing how to read your credit report helps you understand how to improve your credit and maintain a healthy credit score. Step 1 Visit the Annual Credit Report website to get a copy of your free credit report (see Resources section). What to do when you lose your 401(k) match, explain why theres a negative item to your report, How to dispute an error on your credit report, California Consumer Financial Privacy Notice, Open accounts erroneously reported as delinquent, Accounts in good standing incorrectly reported delinquent, Payments reported as late when you paid them on time, Incorrect dates: date account opened and/or closed, last payment or first delinquent payment, The same account listed multiple times under the names of different creditors (this can happen with delinquent accounts or accounts sent to collections), Open accounts reporting you as the owner when you are an authorized user, Unfamiliar accounts and account numbers you dont recognize, Former spouses listed on credit cards, loans and bank accounts, Incorrect reporting of account status, such as accounts incorrectly reported as late or delinquent, Gather relevant documents to dispute credit report errors. Every part of your credit report needs to pertain to you: not your dependents, not your former spouse, and especially not a stranger with the same name. For further information about automated content on CreditCards.com, email Lance Davis, VP of Content, at [email protected]. Factual Data credit inquiry. Reference: Uniquely identifies and links your . Factual Data will start by looking at credit reports generated by CRAs (consumer reporting agencies) Experian, Equifax, and TransUnion, the big three. A Red Ventures company. So, if "1" is current, a "2" is 30 days late and a "3" is 60 days late. As you can see above, a hard inquiry from FDC isnt detrimental to your financial goals. LexisNexis, which prepares and furnishes consumer reports that include civil judgments and tax liens, "diligently collects" the initial entry of such derogatory consumer information yet fails to report when the judgments and liens are satisfied, withdrawn, or released, the case alleges. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. If you see Factual Data on your credit reports, its likely because the company performed a credit check on behalf of a mortgage lender. Re: Factual data They will pull your credit from the three credit reporting agencies. Only some employers will report your employment information to one or all of the credit bureaus. Box 1000Chester, PA 19022P (800) 888-4213, P.O. 16 Jun June 16, 2022. how to read a factual data credit report. In this case, the item is being suppressed until the credit grantor, Discover Financial Services, updates the bureau about information that the bureau requested from them. the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. Factual Data is a company that offers consumer credit and verification services to the mortgage lending industry. The offers that appear on this site are from companies from which CreditCards.com receives compensation. Date of birth: 04/1965Telephone number(s): 917-555-1212. Factual Data Contact Information. Visit the Annual Credit Report website to get a copy of your free credit report (see Resources section). Under this section you will see codes relating to loans and bank cards with a credit history. CreditCards.com is an independent, advertising-supported comparison service. Have you recently come across the name Factual Data on your credit report and wondered what it is? You can submit your human trafficking block request to Factual Data via mail or fax using the form located in the Human Trafficking Block section below (or using any other form of your choosing). Your credit history is the largest section of your credit report and the most important. It may show up on your credit history as Kroll Factual Data, Inc., or Kroll Factual Data. foreclosure proceeding, deed in lieu 9 = Bankruptcy Chapter 7, 11, or 12 (Petitioned, Discharged, Reaffirmation of Debt Rescinded) G = Collection H = Foreclosure J = Voluntary surrender K = Repossession L = Charge off B = Account condition change, payment code not applicable - = No history reported for that month. Offering a variety of credit data solutionsfrom credit reports to workflow solutions designed to build automation and efficiency into your lending process. Or, you can get a free TransUnion credit report from CreditCards.com. Check My Equifax and TransUnion Scores Now The information, including card rates and fees, presented in the review is accurate as of the date of the review. Everyone is entitled by law to look at their credit report from each of the three credit bureaus free of charge once every 12 months, or you can buy a credit report from each of the three bureaus if you want to view your report more often. Upon visiting AnnualCreditReport.com, users are directed to a form page and asked to provide personal identifying information, including name and address, Social Security number and date of birth. This is where the mysterious codes reside. Factual Data provides credit check services for lenders. By providing my email address, I agree to CreditCards.coms Those companies notify you when new entries emerge on your report and let you know when your score changes for any reason. What Does a Credit Report Listing a Grid Code G Mean? This interactive guide displays an example of a personal credit report and explains how each part works. Factual Data by CBC offers a diverse portfolio of lending support solutions to the financial services industry. Credit scores are produced by FICO and are based off of information that appears on your credit report, such as amounts owed, length of credit history, new credit, payment history, types of credit used, types of inquiries and public record information. If you are a victim of human trafficking, you can block adverse information on your Factual Data credit report that is the result of illegal trafficking using this form. Tax liens no longer affect your credit, so you shouldnt find property tax liens, income tax liens, federal and state tax liens or civil judgments on your report. Factual Data is a trusted provider of credit, risk mitigation, flood, and verification services to the mortgage industry. Public records stay on your report for seven years with one exception: Chapter 7 bankruptcy will stay on your report for 10 years. Ultimately, Factual Data pulls your credit report from all three credit bureaus (Experian, Equifax, & TransUnion) and merges it into one concise report, so lenders can make clear and quick decisions on whether they should provide you with a loan or not.